Ulster Unionist MEP Jim Nicholson has urged the European Commission President, Jean-Claude Juncker, to provide more detail on the EU Investment Package he announced this week - a fund to attract private investment that it is hoped will lead to €315billion to be spent on infrastructure projects.
Mr Nicholson said:
"While any plan to attract serious private investment is to be welcomed, I would ask Mr Juncker to spell out his plans in full and give us further detail.
"Questions remain as to how exactly the Commission expects to raise €315billion from €21billion - a leverage factor of 15. Any ambitious growth strategy is to be welcomed, but such strategies also have to be realistic: too often, the European Union over-promises and under-delivers.
"However, if this plan is successful it is most important that Northern Ireland does not miss out. In the past, Northern Ireland has not made good use of the European Investment Bank. Projects will have to be shovel-ready and if we want to maximise our opportunities we will have to act quickly.”